Lennar Corporation $LEN Shares Acquired by Cibc World Market Inc.

Cibc World Market Inc. increased its position in Lennar Corporation (NYSE:LEN) by 993.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 129,487 shares of the construction company’s stock after purchasing an additional 117,640 shares during the quarter. Cibc World Market Inc. owned 0.05% of Lennar worth $16,321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Guerra Advisors Inc purchased a new stake in shares of Lennar during the third quarter worth about $25,000. FNY Investment Advisers LLC acquired a new stake in Lennar during the 2nd quarter valued at approximately $33,000. Rexford Capital Inc. purchased a new stake in Lennar during the 2nd quarter worth approximately $36,000. Mid American Wealth Advisory Group Inc. acquired a new position in shares of Lennar in the 2nd quarter valued at approximately $43,000. Finally, Harbor Investment Advisory LLC grew its position in shares of Lennar by 39.7% during the third quarter. Harbor Investment Advisory LLC now owns 405 shares of the construction company’s stock worth $51,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

LEN has been the topic of a number of research analyst reports. Evercore downgraded shares of Lennar from an “in-line” rating to an “underperform” rating and reduced their price objective for the company from $114.00 to $92.00 in a research note on Thursday, December 18th. UBS Group lowered Lennar from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $137.00 to $122.00 in a report on Tuesday, January 6th. The Goldman Sachs Group restated a “neutral” rating and set a $125.00 price objective on shares of Lennar in a research note on Tuesday, January 13th. Barclays decreased their target price on Lennar from $98.00 to $88.00 and set an “underweight” rating for the company in a research report on Thursday, December 18th. Finally, Zacks Research lowered Lennar from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 8th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, nine have given a Hold rating and eight have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and an average price target of $106.38.

Lennar Stock Down 0.1%

LEN stock opened at $120.84 on Friday. The stock has a market cap of $29.85 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 1.76 and a beta of 1.44. The firm’s 50-day simple moving average is $113.05 and its 200 day simple moving average is $121.83. Lennar Corporation has a fifty-two week low of $98.42 and a fifty-two week high of $144.24. The company has a quick ratio of 1.36, a current ratio of 4.89 and a debt-to-equity ratio of 0.18.

Lennar (NYSE:LEN) last posted its earnings results on Tuesday, December 16th. The construction company reported $2.03 EPS for the quarter, missing the consensus estimate of $2.30 by ($0.27). The firm had revenue of $9.37 billion during the quarter, compared to the consensus estimate of $9.17 billion. Lennar had a return on equity of 9.27% and a net margin of 6.08%.Lennar’s revenue for the quarter was down 5.8% on a year-over-year basis. During the same quarter last year, the company posted $4.03 EPS. As a group, sell-side analysts predict that Lennar Corporation will post 12.48 EPS for the current year.

Lennar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Wednesday, February 4th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a $2.00 annualized dividend and a yield of 1.7%. Lennar’s dividend payout ratio is presently 25.03%.

Lennar Profile

Lennar Corporation (NYSE: LEN) is a U.S.-based homebuilder and real estate company that designs, constructs and sells residential housing. The company offers a range of product types including single-family detached homes, townhomes and condominiums, serving buyers from entry-level and first-time purchasers to move-up, active-adult and luxury segments. Lennar also develops master-planned communities and manages land acquisition and entitlement activities that support its homebuilding operations.

In addition to home construction and sales, Lennar provides a suite of ancillary services intended to streamline the purchase process and capture additional value.